Considering ditching my 135is coupe lease to get a convertible

"Textured Soy Protein" (texturedsoyprotein)
06/20/2014 at 17:01 • Filed to: None

A bit of history: a year ago, I had a Mazdaspeed 6 that was prematurely rusting, and I wanted to get rid of it. I worked a pretty solid deal on a BMW 135is lease, and a good enough trade value to cover the MS6 loan payoff and 135is lease down payment. I'm paying $447/month for 36 months with 36k miles allowed on the lease.

At the time, I was planning to put snow tires on the 135is in winter and drive it as my only car. But, plans changed, and instead I !!!error: Indecipherable SUB-paragraph formatting!!! to drive in the winter.

Now, I like the 135is, it's fun, but what I really like are convertibles. I had a Miata as my only car for 4 years, even though I live in Wisconsin. I made do with Blizzaks in the winter. But since I've got the Jeep for winter and other practical things, I'm feeling the pull toward trying to get out of the 135is lease, so that I can get a convertible.

Doing this would mean effectively forfeiting the money I put towards the 135is down payment, but then again I'd still be doing that if I kept the 135is. I'd try to keep the price of the convertible to $20k or less, so I'd be looking at 986 Boxster S, C5 Corvette, 350Z, S2000, etc. I bank through a credit union that will do 2.79% financing even on older cars and have good credit. $20k loan for 60 months at 2.79% = $357/mo so I'd be saving $90/mo over my 135is lease.

All of this, of course, is dependent on finding someone to pick up my 135is lease. Which could perhaps take a while since I live in a smaller market. There's also theoretically the possibility of "selling" the car back to the BMW dealer but I'm not sure of the payoff amount (different than the remaining cost of the lease) vs. trade value.

But assuming getting out of the lease were possible...am I crazy for wanting to do this?

DISCUSSION (21)

Brian Silvestro > Textured Soy Protein
06/20/2014 at 17:03

Time to find a 135is convertible!

Textured Soy Protein > Brian Silvestro
06/20/2014 at 17:04

Well, if I were to do this, I'd want to both get a convertible AND save some money on payments.

Brian Silvestro > Textured Soy Protein
06/20/2014 at 17:06

ND Miata!

mcseanerson > Brian Silvestro
06/20/2014 at 17:08

This times a billion

Textured Soy Protein > Brian Silvestro
06/20/2014 at 17:08

Since I got rid of my Mata (for the MS6 that I traded in for the 135is), I have become enamored with cars that have actual horsepower.

Manuél Ferrari > Textured Soy Protein
06/20/2014 at 17:08

There is only one correct answer:

Kinja'd!!!

Convertible: check

Cheaper than buying a new convertible: check

Gated shifter: check

Transverse V8: check

Running costs: just don't worry about this, an asteroid might hit earth tomorrow

Textured Soy Protein > Manuél Ferrari
06/20/2014 at 17:10

Kinja'd!!!

Brian Silvestro > Textured Soy Protein
06/20/2014 at 17:11

I hear you, that engine is NICE.

Vicente Esteve > Textured Soy Protein
06/20/2014 at 17:13

By what you say, you already have the practical proposition, so you have a clear run for ANYTHING, which is plenty nice. I would suggest a Porsche Boxster. A relatively modern one is in your budget, and it will be more of a drivers car than the BMW. That would be my pick

Manuél Ferrari > Textured Soy Protein
06/20/2014 at 17:28

Funny thing is that I actually want one. Not right now. But someday.

If I have have spare time and money I'm gonna start a "Save the Mondials" foundation and buy a few of them. I will look for like minded individuals to join the club. We will buy the cars and give them good homes. No Ferrari deserves to be parked on the street and unloved, even if it's one of the slowest Ferraris ever made.

camaroboy68ss > Textured Soy Protein
06/20/2014 at 17:35

Go for a C5 Corvette. I've rode and driven a convertible. Ls1 V8 makes awesome power and if more is needed lots of parts to take care of that. The ride really nice. The tops are manual but are super easy to put down. Could do it sitting at a red light. They actually get good milage. The one I rode was showing 30mpg on the highway at 70.

I will say if you go for one avoid 97-98 vettes. The they are the oddball ls1 motors and parts are a little harder to source. Look for a 02-04 best years of the generation.

Kate's Dirty Sister > Textured Soy Protein
06/20/2014 at 17:48

Mazdaspeed 6 are pieces of shit.

Source : I had one

Yossarian > Textured Soy Protein
06/20/2014 at 17:50

Why not a Targa?

Kinja'd!!!

Textured Soy Protein > camaroboy68ss
06/20/2014 at 17:52

It's definitely one of my top choices. Realistically it's between the C5 and Boxster S. I've driven all the cars on my list at one point or another over the years. The S2k is really cramped inside—actually less roomy than the NB Miata I used to have. The 350Z is really hard to see out of, and I remember the pedal arrangement giving me problems with my size 12s.

Textured Soy Protein > Vicente Esteve
06/20/2014 at 17:55

Yeah if I were to do this, my top 2 choices are 986 Boxster S and C5 Corvette. I've driven both cars but it's been a while. The problem is I live in Madison, WI where there just aren't that many cars like this to go test drive and get a good feel for.

Textured Soy Protein > Yossarian
06/20/2014 at 18:10

I've thought about it, but I really just like that no-roof feeling.

Textured Soy Protein > Kate's Dirty Sister
06/20/2014 at 18:16

I enjoyed it for a while but I was relieved to see it go. The amount of rust it developed, having never been in an accident, was ridiculous. Plus the interior was a giant pile of rattles.

Textured Soy Protein > Yossarian
06/20/2014 at 18:32

Although after I made my last reply, I happened to find this little ditty at a local dealer. But...it's in the shop right now and has no heat or a/c.

Kinja'd!!!

Kate's Dirty Sister > Textured Soy Protein
06/20/2014 at 18:38

I didn't got mine for long enough for rust to form, but everything had or was falling appart after 3 years.

I threw a big ass party when I got rid of it.

Vicente Esteve > Textured Soy Protein
06/20/2014 at 18:59

I live in a city called Tampico Mexico (More of a Town) there arent any Porsches in my state.

Rock Bottom > Textured Soy Protein
06/23/2014 at 13:54

I've driven several Boxsters (once spent a week with a borrowed 986 S) and a couple 350Zs as well over the years. Loved them all. Bought a C5.

The Nissan is sooo pretty, but they're expensive for what you get and most of the reasonably priced ones have been super-moto-drifted to within inches of their lives by now. And Boxsters are tiny. I've also never been impressed with Boxster shifters. They feel like a broken broom handle in a bucket of gravel.

You can pick up a sweet C5 for cheap, parts are cheap, tires are cheap, more power is cheap, insurance is cheap, gas is cheap. The best part is that you're probably buying it from an old man that just drove it to the bank once a week and couldn't even tell you how to turn the traction control off. They're basically the best performance bargain around (unless you're into basket case Fox Mustangs!).